Concept Capital Markets conducted a survey of some 108
investors, representing $150bn in direct hedge fund assets,
Ă˘â‚¬Ëśto gain insights into allocators' dispositions toward hedge
funds', and found that there will be an increasing allocations
for 2013, with an emphasis on emerging managers. Indeed,
respondents to the survey overwhelmingly (86%) indicated
that they will be increasing their allocations to hedge funds
in 2013. And emerging managers appear to be the principal
beneficiaries of these increased commitments, with 58% of
respondents targeting managers with less than $50m AUM
and 61% of respondents showing interest in managers with
track records of less than two years.
Additionally, institutional allocators seem to be less reluctant
to be early investors. More than half of respondents to
the survey indicated that they had already been "day one"
investors, and of those that had not committed capital to
startups, 40% responded that they would be open to the
opportunity. (Full Opalesque article).

E&Y survey finds investors allocate more to
new managers, FoFs get more concessions

However, there is an accompanying squeeze on margins,
most notably from funds of funds managers, who are
demanding and getting a variety of concessions, particularly
on fees (95%), often in r......................